Compared to Homeowner Opinions, Appraisals Come in Just Shy

Appraisals came in 0.29 percent shy of what homeowners perceived in terms of value, according to the Quicken Loans National Home Price Perception (HPPI). Appraised home values rose 5.69 percent year-over-year, according to the Quicken Loans National Home Value Index (HVI). “A wide gap between the estimated home value and the appraised value can cause […]

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Inventory Watch: Is ‘Big Change’ on the Horizon?

The grip on inventory is loosening, with fresh listings sprouting up and the severity of the shortage starting to unwind, according to findings by realtor.com®. On an annual basis, there were 8 percent more listings on the market in September, according to data from the site, or over 465,000 new properties. The biggest boosts were […]

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LGBT Homeownership: Affordability and Fear of Discrimination Dominant Deterrents

The LGBT community is largely holding back from homeownership, according to a recent survey conducted by Freddie Mac in collaboration with Community Marketing and Insights, which polled 2,313 LGBT community members in the U.S. aged 22-72. In fact, compared to the national average of 64.3 percent, only 40 percent of LGBT households are likely to […]

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Policy Matters: FHFA Ends Single-Family Rental Pilot Program

In a win for prospective homebuyers across the country, the Federal Housing Finance Agency (FHFA) announced on Aug. 21, 2018 that Fannie Mae and Freddie Mac (the Enterprises) will end their single-family rental pilot programs. The FHFA found that the institutional, single-family rental investor market is performing well without the liquidity provided by the Enterprises. […]

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Student Loan Debt a Homeownership Barrier for Women and Millennials

Rising interest rates, a seller’s market and increasing home values…these are just a few of today’s market challenges for buyers. While 92 percent of adults say homeownership is an important part of the American Dream, student loan debt is the predominant obstacle, according to the sixth annual NeighborWorks America at Home survey. This is especially […]

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In ‘Healthy Shift,’ More Homeowners on Board With Selling

Are homeowners warming up? With prices rapidly rising, homeowners have been reluctant to sell, fearful of being unable to afford another home—a catch-22, because inventory is limited as it is, and compounded further when homes are kept off the market. Now, their confidence is growing, according to the latest National Association of REALTORS® (NAR) Housing […]

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Hurricane Florence: Nearly $30 Billion in Estimated Losses

Earlier this month, Hurricane Florence blasted through the Carolinas and Virginia, leaving a path of flood and wind damage in its wake. According to an analysis by real estate data provider CoreLogic, residential properties in the Carolinas and Virginia sustained between $19-$28.5 billion in damage, which includes impact from both inland flooding and storm surge. […]

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It’s a Sellers’ Market—but Not for Millennials: Report

Even as homeowners, millennials are drawing the short straw. According to the 2018 Zillow Group Report on Consumer Housing Trends, newly released, millennial sellers—even with the proverbial “upper hand”—are having to change their closing date or cut their list price. Many, even, have had deals fall apart, against outside stressors and tight timelines—and, the majority […]

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Pending Home Sales Slip, Trampled by West

For the housing market, gaining ground is proving to be a struggle. On an annual basis—and for the eighth month in a row—pending home sales slipped, according to the August National Association of REALTORS® (NAR) Pending Home Sales Index (PHSI). Activity backtracked 1.8 percent month-over-month and 2.3 percent year-over-year. According to the Index, activity contracted in […]

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Mortgage Rates at Record Not Seen Since Spring 2011

The average 30-year, fixed mortgage rate rocketed to 4.72 percent this week, at a record not seen since spring 2011, according to Freddie Mac’s latest Primary Mortgage Market Survey® (PMMS®). The average 15-year, fixed mortgage rate rose to 4.16 percent, while the average five-year, Treasury-indexed hybrid adjustable mortgage rate shot to 3.97 percent. Last week, […]

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